Question

1. List a few jobs that have been rendered obsolete by technological change. Are some of these jobs so unpleasant that they are better done by machines? On the whole, have more "good" jobs or "bad" jobs been eliminated by technological advance?
2. What new products and services have been created by technological advance during the past 20 years or so? To what extent are they "essential" parts of contemporary life?
3. Is there anything problematic about an economy that centers on the production of services instead of the production of goods? Is a country with such an economy in an inherently dangerous position when it confronts international economic, political, and military competition?

Answer 1

Answer (1) : Technology has been the greatest revolution in the world today and has been the turning point of the human civilization towards fast paced development. However, the development of technology has also been in some way negated by the huge number of jobs which have now disappeared from the market. Very old jobs such as fireman in the trains, Team drivers, professional deer cullers, milkmen, Operator of the switchboards, Clerks, pasties, Lector, Pinsetter etc. Jobs are never unpleasant. Jobs have also been the result of the necessity of men in the various times we have lived. The disappearance of the jobs forms the market, can be summarized as the new technological development which created new ways of doing the same job done mechanically or by means, which lead to the saving of money and time. Hence the people who were involved in those jobs were replaced with machines or with other technologies or merged wit other jobs. It is the need of time to save time, money and labor that have taken away these jobs from the market. Jobs of every nature have been eliminated by the advancement of technology. Jobs cannot be clubbed in the category of good or bad. Jobs are the requirement of men, of whatever nature it could be. Technological advancement has had their effect on all kind of jobs. Right from the postman, milkmen to the highest jobs of technocrats in multinational companies. The only factor that technology has focused on how a particular job can be performed faster, in a better way and thereby saving money.

Answer (2) : Technology has evolved greatly in the last 20 year. Many new products and automates have evolved with the passage of time. New Jobs such computer analysts, production control specialists, database managers, automates etc. have evolved lately, which have created a boom of new jobs in the market. These new jobs have taken over the industry. These types of automated jobs require more of the human caliber in the knowledge part and requires lesser of the labor part. Knowledge of new technology is the demand of the hour now. With these new development and advancements, most of the manual tasks that had to be performed earlier by a number of people, were automated to be performed by one machine and may be a couple of technologically sound individuals to manage the machine. New technologies have also created newer jobs in the market, although these new services and jobs are more of the knowledge sector. A Peron with better knowledge of the technology or a particular rare knowledge of a software or application has better opportunity to grab a job now, in contrast t an individual with hard labor capability. Everything we use today right from early morning to the time we go to bed are the result of technology and it innovation. People today are more dependent on technology than on their oneself. People rarely can live without the machines that use on daily basis. These machines have now become the parts of life and are very integral to the people.

Answer (3) :

Both goods and services are essential for the overall growth and development of an economy. Therefore, the production of both goods and services are critical for the sustainable development of any economy. If a country focuses on only on the production of services, and ignores the production pf goods, the economy may soon be approaching a situation where, there would be no goods left to apply the services on or for. Only service sector cannot constitute the market. Services. although in many instances directly serve or impact people, but in majority of instances, services impact the lives of people through goods. I.e. if an economy has no goods, the service sector will also die down in the long run.

                                        In the shorter run, an economy which focuses on the production of only services may experience huge service demand and profits in return, however, in the longer run, the economy may may loom with the disappearance of the goods sector and since service sector is also dependent on the goods sector, the service sector my also disappear. Moreover, when the country confronts the international requirements, it is the goods sector which is more critical to face the front-line international needs. The service sector supports these needs from the backend. For example, in the military department, we can have as many technologically advanced applications and software’s helping us, but at the end of the day, it is the armed machines and guns which will be requiring to involve in any military operation. Therefore, to summarize, services are necessary for an economy, but goods are also critical for the overall sustainable growth and development of the economy.